Employee retention is one of the most important concerns that many businesses have. Holding on to productive employees improves morale and can increase profitability. It makes for a more enjoyable workplace that allows people to focus on their assigned tasks every day.
There are many reasons why employees leave their employers. They may receive job offers with better pay, more benefits or a more flexible schedule. They may be feeling tired or burned out at their current position. Others may have difficulties adapting to changes or dealing with difficult coworkers.
These and other reasons are why more and more companies have taken proactive measures to retain quality employees. There are companies that specialize in assisting businesses of different sizes. You can go online to sites including National Sweepstakes Company and others to find ideas for ways to improve morale and employee engagement. You can hire companies to implement such programs, or you can take the initiative to tackle everything yourself if you so desire.
Here are a few tips for creating employee incentives that actually work:
1. Offer flexible scheduling
Many employees are used to working a standard eight hour day, five days a week. This is how most companies operate. However, with more and more workers having to adjust their schedules to to child care, family obligations and other responsibilities, this isn’t as realistic as it once was. Offering flexible scheduling can be one way to resolve the issue. Offering rotating shifts or varying work hours during pay periods allows more room for employees juggling these responsibilities to effectively take care of those priorities and still get their work done. It’s a more flexible alternative, especially for new hires who haven’t accumulated much personal time off yet.
2. Make telecommuting an option
Depending on the position and its requirements, you may be able to offer the option for employees to telecommute. This allows them to work from home during the week. They can still clock in and clock out online, submit meeting notes and progress reports and have phone or video chats to provide updates. Companies that don’t have a lot of office space or conduct business in multiple states and countries have been using telecommuting for years with great success.
3. Take time for fun
Companies that are thriving in their industry are usually known for their dedicated work ethic. They work hard, but they also play hard. It’s okay to close the office for the day or afternoon to have lunch at a local park, or go to the movies on a rainy day. Hosting holiday parties or annual company retreats are a good way to recognize key performers for their hard work every year. You can cater a nice meal, hire a live band and hand out awards for performance, for example.
4. Let employees take time off to volunteer
Giving back to worthy causes in your local community is a nice gesture and a good way to help others in need. Many companies allow employees to take off a certain number of hours to volunteer for their favorite nonprofit organizations. Some businesses, even volunteer incentives or even make charitable contributions to the groups that their employees volunteer for. It’s a nice reminder that life isn’t always about work.
These are just some of the many employee incentives that can keep your workers happy. Other ideas include tuition reimbursement, profit sharing, retirement plans and a relaxed dress code. What you decide to do will ultimately depend on your business needs and suggestions from your employees. Take the time to listen to their concerns and address them appropriately. Happy workers are productive workers. People like to work for companies where they feel like what they do matters and where they are treated well. Holding on to quality employees can help you continue to thrive and prosper as you build your business and increase profitability for years to come.